The banking crisis might not be over

Imperiled bank Credit Suisse was bought by Swiss banking giant UBS Sunday, hours before New York Community Bank announced plans to purchase Signature Bank. The purchases were meant to calm nervous depositors in the wake of Silicon Valley Bank’s demise earlier this month, but roiling markets on Monday were a reminder that there’s still a lot of uncertainty about whether the banking crisis can be contained.

The good news is that the main factors that brought Credit Suisse to the precipice of collapse don’t seem to be a direct result of the crisis that...